Also known as a featherweight floating charge. A floating charge which is not primarily aimed at providing any collateral security interest but instead at providing the lender with the right to appoint an administrator (or, where still possible, an administrative receiver) and thus force the commencement of an insolvency process when it wishes and dictate the identity of the administrator or administrative receiver appointed, and receive notice of proposed insolvency proceedings by the company. Generally, as the lender's aim in taking a lightweight floating charge is not to have substantive security in terms of collateral, the lender:

For more information on floating charges, see Practice note, Taking security: Floating charge.